Bill Gross
The Visionary
The future, and what is barely possible, reads round the next corner.
Bill Gross reads as The Visionary because he did not refine an existing bond market so much as construct the intellectual and institutional scaffolding for one that barely existed. His invention of secular forecasting gave fixed income an analytical framework it lacked, while embedding personal narrative into market commentary reimagined how a fund communicates conviction.
“It's a newborn beach. It's a home in Newborg Beach. So we watched it and we said, hey, that's where this house is. And so we learned to love Gilligan Island, the skipper and the movie star, and we would sing it to each other. And so when we would go down to the home in South Aguna, we'd sing Gilligan's Island.”
“Oh, it is. And certainly you need to create credit, ongoing credit, relative to last year and the year before in order to keep the economy going. The question becomes how much credit and certainly in the last several years it's accelerated dramatically because of the fiscal and the monetary stance at 0% interest rates.”
“Well, that's true, and that's our argument that it didn't fly with the judge, but the city ordinance has said that 60 decibels was as loud as you could. Play the music. We had a decibel meter that kept it at sixty or under, but it didn't please the neighbor, especially at eight or nine o'clock when we were in the pool.”
“And he goes, No. I said, I just checked. He said, 16 under and a card off. I go, oh, okay. And so I told Thompson, he better go home and I'd better go back to the hotel. So I went back to the hotel. And at 9 o'clock my caddy calls up and he says, Mr. Gross, we made the cut the card off. We made the cut.”
Masters in Business: “Bill Gross on Institutional Bond Trading (Podcast)”
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